Citigroup Inc. (NYSE:C) Shares Sold by Haverford Trust Co

Haverford Trust Co reduced its position in Citigroup Inc. (NYSE:C) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,644 shares of the company’s stock after selling 263 shares during the quarter. Haverford Trust Co’s holdings in Citigroup were worth $890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. grew its holdings in shares of Citigroup by 34.6% in the fourth quarter. Prudential Financial Inc. now owns 2,214,204 shares of the company’s stock valued at $155,858,000 after purchasing an additional 569,565 shares in the last quarter. Sound Shore Management Inc. CT acquired a new position in shares of Citigroup in the fourth quarter worth $86,334,000. Napatree Capital LLC increased its position in shares of Citigroup by 5.6% during the fourth quarter. Napatree Capital LLC now owns 3,791 shares of the company’s stock worth $267,000 after acquiring an additional 202 shares during the period. Blueprint Investment Partners LLC raised its stake in shares of Citigroup by 14.5% in the fourth quarter. Blueprint Investment Partners LLC now owns 5,862 shares of the company’s stock valued at $413,000 after acquiring an additional 741 shares in the last quarter. Finally, Mosley Wealth Management boosted its holdings in Citigroup by 8.8% in the fourth quarter. Mosley Wealth Management now owns 16,034 shares of the company’s stock valued at $1,129,000 after purchasing an additional 1,302 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 3.0 %

Shares of Citigroup stock opened at $74.12 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company’s fifty day moving average is $77.48 and its two-hundred day moving average is $70.42. The company has a market capitalization of $139.67 billion, a P/E ratio of 12.46, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. Analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its board has initiated a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Insider Activity

In related news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on C. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Morgan Stanley decreased their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.53.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.